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Jack Ma’s Firms Sold 43.3% Stake in Paytm For $5.6 Million

Jack Ma’s Firms Sold 43.3% Stake in Paytm For $5.6 Million

Jack Ma’s firms, Alibaba and Ant Financial, back off from Paytm and have sold their 43.3% stake to the company for just $5.5 million (around Rs. 42 crores). In the last round of funding in 2020, the company was valued at $3 billion. From the combined 43.3% stake, Alibaba had 28.35%, and Ant Financials owned…